JCPenney (JCP) Reports SSS Down 1.7%

J. C. Penney Company, Inc. (NYSE: JCP) comparable store sales decreased 1.7% for the four weeks ended May 3, 2008, compared to guidance for sales to decrease mid- to high-single digits and compared to a 3.4% decrease last year.

Sales benefitted in the month from more favorable weather trends in some regions of the country that boosted seasonal apparel sales, and customer response to promotional and clearance activities.

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